OpGen Inc. (NASDAQ:OPGN) Awarded $860,000 CDC Contract

OpGen Inc. (NASDAQ:OPGN)

Shares of OpGen Inc.(NASDAQ:OPGN) fell 1.4% after the Center for Disease Control and Prevention awarded the company a contract for the development of clinical support tools for antimicrobial stewardship and infection control. The agency has since granted the company $860,000 for the development of a cloud-based mobile software which is to be used in low and middle-income countries.

CDC Contract Award

OpGen Inc. (NASDAQ:OPGN) is to work with Teqqa, LLC and Universidad El Bosque (UEB) of Bogota, Colombia led by Maria Virginia Villegas, M.D., M.Sc. to bring the solution to fruition. Teqqa is to provide a cloud and mobile based software platform to support antimicrobial stewardship.

The platform is to be used to identify patients that require infection control precautions and assist in the implementations of the necessary precautions. The software will be translated into Spanish to support WHONET data integration.

“OpGen looks forward to working with the CDC to help address this urgent global need,” stated Evan Jones, CEO of OpGen. “Improving antimicrobial stewardship worldwide has been identified by the CDC, the World Health Organization (WHO) and governments worldwide as a core activity in the fight to contain and manage infections from multidrug-resistant pathogens.”

OpGen Inc. (NASDAQ:OPGN) is also developing the Acuitas AMR Gene Panel u5.47, a PCR test designed to detect antibiotic resistance genes. The test can detect up to five bacterial pathogens in clinical isolate and urine specimens. It can also be used to detect up to 47 antimicrobial resistance genes.

According to OpGen’s senior vice president of research and development, Dr. Terry Walker, antimicrobial drug resistance is an urgent global health concern.

“Our data show that the Acuitas AMR Gene Panel accurately detects and quantitates key complicated urinary tract infection pathogens. We are encouraged by the development data for Acuitas Lighthouse Knowledgebase prediction algorithms currently in development,” said Dr. Walker.

OPGN Stock Performance

The CDC award did little to strengthen investor confidence in the precision medicine company. The stock has underperformed the overall industry, having shed more than 70% in market value since the start of the year.

OpGen Inc. (NASDAQ:OPGN) is currently trading in a downtrend as investors sentiments on the street continue to drop. However, the stock is currently rated as a ‘strong buy’ by two analyst firms according to data compiled by Zacks Investment Research.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $OPGN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Your email address will not be published. Required fields are marked *

Comment

Name *

Email *

Website

Newsletter Sign Ups

Or, send it straight to Facebook Messenger!

StockNewsUnion is a news gathering organization led by a team of unbiased, investment professionals dedicated to following the market’s biggest headline stocks on a daily basis. Our goal is to provide unmatched news and insight on newsworthy and momentum stocks to investors and traders worldwide.

Special attention is given to Nasdaq and listed US stocks trading under ten dollars that tend to have the largest street following.

We focus on identifying these companies and uncovering their stories before the rest of the market to ensure that you receive the full story – every single day.